Revolut vs. N26

Both banks are fully digital with app-based budgeting.

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Revolt vs N26

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Both of these challenger banks are new to the US, with N26 available to US customers now and Revolut planning to launch soon, with a waitlist open. Which one you should choose depends on how you spend and manage your money.

Revolut vs. N26: Side-by-side comparison

Revolut offers a free account as well as two different premium accounts. At the time of writing N26 offers one account type. The following chart compares the N26 account against the free standard Revolut account.

RevolutN26
Fees and charges$0$0
Domestic ATM chargesFree withdrawals up to $300/month, then 2% of the withdrawal amount2 free withdrawals per month, then $2 per withdrawal
Foreign ATM chargesFree withdrawals up to $300/month, then 2% of the withdrawal amount2% of the withdrawal amount
Send money to friendsFree to anyone with a Revolut accountFree to anyone with an N26 account
Transfer money internationallyTransfer to 29 currencies with a 0.5% fee for anything above $6,500 each month plus a flat markup on weekends and in certain currenciesN/A
Spending insightsShows spending by category, merchant, country, and monthOffers insights into where you spend your money, along with monthly reports help understand your spending habits
Freeze your cardYes: Touch of a button in appYes: Touch of a button in app
InterestNoneNone
Savings goalsSet budgets in the appSpaces feature lets you open subaccounts to stash your money away
VisualizationSpending graphs show which days you’ve spent most/least moneyMonthly spending statistics shown in pie chart
Foreign exchange fees0.5% for spending more than a certain unspecified amount each month, plus a flat markup on weekends and for some currenciesNone

Revolut vs. N26: The verdict

Using the app

In terms of the actual app, there’s not much separating these two. Both Revolut and N26 offer stylish graphics and spending insights, categorizing your transactions and showing you how much you’ve spent in a category or at a particular shop. Budgeting with both apps is easy and structured, although N26‘s Spaces feature might put them above Revolut in this respect.

With Spaces you can open subaccounts to store away money for a particular saving goal.

Using your card abroad

When compared with using your traditional bank card, both Revolut and N26 will save you more money abroad. Revolut is probably the better option out of the two, though.

  • Card transaction fees. N26 doesn’t charge any foreign exchange fees, while Revolut charges 0.5% for spending more than a certain unspecified amount each month, plus a flat markup on weekends and for some currencies.
  • Number of countries. With Revolut, you can take money out in 150 different countries. N26 doesn’t say in how many countries its card can be used.
  • ATM withdrawals abroad. Revolut lets you withdraw $300 a month at foreign ATMs, but charges a 2% fee after that. N26 charges 2% of the withdrawal amount.

Security

N26 is FDIC-insured through its partner bank, Axos Bank. Revolut partners with FDIC-insured bank Metropolitan Commercial Bank to protect funds on its prepaid debit cards.

Video: Alex Weber, head of international markets, on why N26 is different

Bottom line

Both N26 and Revolut offer consumers a fully in-app way to control their finances. But they’re also very new: N26 launched in the US in July 2019, and as of August 2019 Revolut has not yet launched in the US.

If you’re considering switching banks, compare other checking accounts to N26 and Revolut before making a decision.

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2 Responses

  1. Default Gravatar
    MischaOctober 11, 2019

    ATM withdrawals abroad. Revolut lets you withdraw $300 a month at foreign ATMs, but charges a 2% fee after that. N26 charges $2 plus 2% of the withdrawal amount.

    That’s not true ! N26 charges 1,7% of the withdrawal amount, without extra 2 $ !!!

    • Avatarfinder Customer Care
      RyanOctober 11, 2019Staff

      Mischa,
      Thanks for reaching out to us. The 1.7% is the percentage amount for N26’s EU account holders. US account holders have a 2% charge. We also doubled checked N26’s extra $2 fee. Its website still mentions the $2 fee, but an N26 customer service rep confirmed that there’s actually no $2 extra, just 2%. Hopefully N26 will update its website soon. We’ve updated our reviews. Thanks for pointing that out.

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